Changing Your Careers in a Recession - Good or Bad Idea?

By David Couper, Career Change Coach

We are facing difficult times - for some of us terrible times. Is now the time to be thinking about a new career, or starting a new business or getting a new job?

The answer lies in what your present situation is and what your goals are. If you are already in a growth industry working in a job that you like and pays well you probably don't need to look for a fresh start. If you have a job that you like and pays well but is in an industry that is declining the answer is different. Perhaps you should be looking for a new position before the sector and your organization collapses. If you are not working right now, then depending on your financial situation you may want to make the hard decision to move into a different role.

Let's look at each of these situations in detail to help determine whether or not you should change your career during the current recession.

You love your job, it pays well and you are in a growth industry.

Congratulations! You are in one of those rare areas of the economy that is still doing okay. You might be in healthcare or certain areas of technology or in the government. Why would you want to change careers? Maybe you've seen the writing on the wall. You've seen what has happened in other industries and you can see what could happen in your world. For example, who would have thought that …

You are in an industry that is declining or suffering hardship.

For example, you may work in banking or retail. These are questions to ask:

1. Is this a temporary blip or a long term trend?

a. Eventually people will buy houses again so they will need mortgages.
    That model doesn't look like it will change. It's temporary.
 
b. You work for a medium-sized privately owned bookstore in a small town.
    Business is down and unless the owners do something extraordinary or
    have some unique specialty - Books for Cooks in London's Notting Hill
    sells books and teaches cooking - you might be in trouble. Warning!

2. Do you do something that can transfer easily to another industry?

a. If you are in HR you can often move into other areas fairly easily.
 
b. If you work as an engineer for a custom manufacturing company making
    high quality stainless steel products then you are more limited as you
    see your work going to lower cost producers around the world.

3. Are you at the top of your game, irreplaceable and paid below market?

a. If you are needed and you are not "overpaid" you are less likely to be laid
    off than the person who is one of the pack and being highly paid.
 
b. If you are the highest paid person out of a group of people make sure
    that you can justify why you make more money and tie it to dollars.
    When the money guys and gals want to make cuts they look at
    numbers not faces.

You are Unemployed

You didn't see the writing on the wall (I have been laid off three times in my career) and now you are unemployed.

The first thing to address is your finances. Do you need to pay pressing bills, stop your house being taken from you or support your family? You must get money coming in. That usually means applying for a job in the career you were in - you have the most experience and expertise there. But in order to stay employed in the same field you may have to relocate or take a pay cut. And be ready to network and work full time in finding a full time job. The other way is look for work is in an area in that is still hiring. Unfortunately that often involves low-paid work such as in fast food or dirty work such as gardening. The key is to get money coming in.

Once you have money coming in, then you can consider a career change. If you are worried that your new job is going to disappear again - and in this economy that can happen- then it's time to look at changing to something more secure. Or, if you are in a low paid, undesirable job you probably want to look at changing so that you can more money and be more fulfilled in your work.

If you have money for a breathing space, then you have more options. This can be the perfect time to look at doing something you have always wanted to do but were too busy (or or too scared) to try. You can use this enforced change as a gift to really pursue what you want then just take whatever you are offered.

One of my clients was laid off from a job she hated. With my help she was able to look at what was really important in her career and through setting an intention, drawing on the laws of attraction and taking some practical steps such as creating a networking strategy to develop a business which she loves. Her work is much less demanding, far more satisfying, and paying more money than her old job.

If that appeals to you, contact me for a free coaching session.

WEBSITE - get sample coaching
www.davidcoupercoach.com

BLOG - ask your career question
http://blog.davidcoupercoach.com

NEWSLETTER

David Couper is a unique Career Change Coach and writer who has enabled thousands of successful clients around the world to find their dream jobs and fulfill their life's purpose. For the last twenty years he has worked in Europe, Asia, and in the USA with major organizations including the BBC, Fuji Television, Mattel, Sony, and Warner Bros.

He has successfully coached individuals at all levels including CEOs of major companies wanting a new challenge, frustrated souls wanting to make their dream come true, and front-line employees laid off and desperate to get a job.

David has published seven books, with topics including interpersonal skills, counseling in the workplace, and management issues (published by Connaught, Gower, HRD Press, Longman, Macmillan/Pearson Publishing, Oxford University Press) have been translated into Swedish, Polish, and Danish, and published in the UK and the USA.

David has a degree in Communication, a postgraduate qualification in education, is certified in a number of training technologies, and has a Masters in Psychology. He is a member of the American Society of Training and Development, Society of Human Resources Professional, Writers Guild and the British Academy of Film and Television.